*NEWS*UNITED STATIONERS POSTS STRONG Q2

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*NEWS*UNITED STATIONERS POSTS STRONG Q2

 user 2006-08-22 at 12:50:00 pm Views: 55
  • #15994

    United Stationers posts strong Q2
    August
    2006 —Des Plaines (IL): United Stationers has posted a doubling of Q2
    net income to $41.4 million, from $20.9 million in Q2 2005.Diluted
    earnings per share were $1.29, compared to $0.62 in the previous
    year.During the quarter, the company completed the sale of its Canadian
    Division and completed on the acquisition of Sweet Paper.Q2 net sales
    rose to $1.1 billion from $1 billion a year earlier. Sales from
    continuing operations increased by $65 million, a 6.2 percent increase
    over the previous quarter.The company posted an improvement to its
    underlying gross margin to 14.9 percent, attributable to a favourable
    product mix and the benefits of the company’s global sourcing
    initiatives.The quarter benefited from an additional two months of
    sales related to the Sweet Paper acquisition and from one-time product
    content syndication/marketing programme income and the sale of two
    distribution facilities.